(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 17 April 2023 in relation to the Proposals, where applicable, unless stated otherwise or defined herein.)

Reference is made to the earlier announcements dated 17 April 2023, 16 June 2023, 27 July 2023, 1 August 2023, 21 August 2023 and 28 August 2023 in relation to the Proposals.

In relation to the Private Placement, on behalf of the Board, TA Securities wishes to announce that Eclipse International did not remit the Subscription Price of RM14.0 million within 5 Market Days from the date the Subscription Agreement became unconditional (i.e. by 28 August 2023). As such, Eclipse International has not complied with Clause 5.1 and 5.2.1(a) of the Subscription Agreement.

In view thereof and in accordance with Clause 5.2.2 of the Subscription Agreement, the Company shall not allot and issue the Placement Shares to Eclipse International and as such, the Private Placement has lapsed and cannot be implemented.

As the proceeds to be raised from the Private Placement was intended to partially fund the Purchase Consideration for the Proposed Land Acquisition, the Board is in the midst of exploring other alternative source of funding. The relevant announcements will be made in due course on any material updates to the Proposals, in compliance with the Listing Requirements.


This announcement is dated 7 September 2023.